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20121201
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at the start of the trading day is a daily ritual at the new york stock exchange, despite the enthusiasm, traders are keeping an anxious eye on share prices. the fiscal cliff is on everyone's mind. u.s. treasury secretary timothy geithner has warned that his department will need to take extraordinary measures to postpone the upcoming government defaults. he plans adjustments to the national budget that would give the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock o
sticking together during tough times. the boss played the opening notes of the new york benefit. >> ♪ meet me in the land of hope and dreams " >> springsteen's native new jersey was particularly hard hit. this date is set to receive 40% of the concert proceeds -- the state is set to receive 40% of the concert proceeds. rocker pete townshend and the who also chipped in. and "another brick in the wall." ♪ >> i sort of feel like a new yorker. i was very pleased to come here tonight and be able to stick in my -- to help the people who have been badly affected by this storm. >> it has been six weeks since sandy pummeled the u.s. east coast, leading 120 people dead. thousands of homes remain uninhabitable. the concert raised tens of millions of dollars to help them rebuild. the rolling stones played their part, too. mick jagger joked it was the most old man he had ever seen on one stage -- most old men he had ever seen on one stage. >> he isis truth. >> still a good concert. bundesliga powerhouse bayern munich are set to go into the break at the top of the table. >> they face gladbach. >> they
ground than that. as for the dow over in new york, it is down 0.6%. the euro shedding just a little bit of ground against the dollar. >> in other news now, the united states says it deeply regrets the passage of a new law in russia that bars american citizens from adopting russian children. president vladimir putin has signed the law, which places new strains on bilateral relations. >> the new law comes in response to american legislation that withholds visas to russians accused of human rights violations and freezes their u.s. assets. >> most bills signed by president putin have not been subjected to so much public scrutiny, but the ban on americans adopting russian children is controversial, so putin's strategy is to appeal to russian patriotism. >> as far as i know from opinion polls, the vast majority of russian citizens have a negative opinion of foreigners adopting our children. russia can and must look after its own children. >> at the same time, a russian judge acquitted a former prison doctor. human rights activists say he is responsible for the death of a russian lawyer in 200
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